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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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SoftBank to take 40% stake in warehouse robotics firm AutoStore for $2.8 billion

04/05/2021 | 10:18pm EDT
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo

(Reuters) - SoftBank Group Corp has agreed to buy a 40% stake in AutoStore for $2.8 billion, the Norway-based robotics firm said on Monday, in yet another big investment by the conglomerate in warehouse automation technology that optimizes e-commerce operations.

The Japanese company will acquire the stake from funds affiliated with AutoStore's majority shareholder Thomas H. Lee (THL) Partners and other investors including EQT Private Equity, valuing the firm at $7.7 billion.

Founded in 1996, AutoStore has 20,000 robots deployed across 35 countries and counts Puma, Best Buy and Siemens among its customers. The company also touts a design method that allows customers to store four times the inventory in the same space in a warehouse.

Such technology enables e-commerce companies to deliver packages faster and more economically, as online shopping has surged during the COVID-19 pandemic.

SoftBank in January last year took part in a $263 million funding round in Berkshire Grey, which develops artificial intelligence-based logistics automation systems used by its customers - Walmart Inc, Target Corp and FedEx Corp - in their warehouses and distribution centers.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Ramakrishnan M.)


ę Reuters 2021
Stocks mentioned in the article
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BEST BUY CO., INC. 1.91% 115.35 Delayed Quote.13.52%
EQT AB (PUBL) 1.60% 437.1 Delayed Quote.104.47%
FEDEX CORPORATION 0.02% 297.1 Delayed Quote.14.42%
PUMA SE -0.71% 105.1 Delayed Quote.14.71%
SIEMENS AG -0.10% 134.42 Delayed Quote.14.50%
SOFTBANK GROUP CORP. -2.13% 7106 End-of-day quote.-11.81%
TARGET CORPORATION -0.24% 260.4788 Delayed Quote.47.87%
WALMART INC. -0.08% 142.32 Delayed Quote.-1.19%
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Financials
Sales 2022 5 953 B 53 967 M 53 967 M
Net income 2022 1 045 B 9 475 M 9 475 M
Net Debt 2022 13 879 B 126 B 126 B
P/E ratio 2022 12,8x
Yield 2022 0,63%
Capitalization 12 173 B 110 B 110 B
EV / Sales 2022 4,38x
EV / Sales 2023 4,22x
Nbr of Employees 58 786
Free-Float 47,1%
Chart SOFTBANK GROUP CORP.
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SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 15
Last Close Price 7 106,00 JPY
Average target price 11 336,00 JPY
Spread / Average Target 59,5%
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Managers and Directors
Masayoshi Son Chairman & Chief Executive Officer
Yoshimitsu Goto Chief Financial Officer & Senior Managing Director
Norikazu Oba Manager-Finance & Planning
Raul Marcelo Claure Chief Operating Officer & Vice President
Tim Mackey Chief Legal & Group Compliance Officer
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